Buffet expects taxes to rise, due to rising fiscal defecits, in the future

According to Buffet in Reuters: "Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending."

I think that raising taxes, rather than reducing spending, is the more probable outcome. I would rather, reduced government spending, because I don't have confidence and trust in the government.

However if tax increases are focused on the richest people and organisations, and by reducing tax evasion and avoidance by the largest taxpayers, I won't mind. Corporations should not be able to avoid paying domestic taxes, by various measures, like moving parts of their business to low tax jurisdictions. And wealthy individuals can pay a small wealth tax and inheritance tax.

And the spending should be allocated properly to sustainable and smart infrastructure, and human education and skilling. And also to protect the human rights of individuals, as commonly understood in international human rights law. The basic rights to living are easier to protect in a rich nation; but more expensive rights (in terms of money and power) should also be protected. Like freedom, property rights, sanctity of mind and body, and privacy.

Reference: https://www.reuters.com/markets/us/warren-buffett-says-taxes-may-rise-offset-widening-us-deficits-2024-05-04/